Nov 15, 2007

So like everyone else, one of my first reactions to the news that award show magician Tony Granger was taking over the CCO job at Y&R was "Damn, they must be paying him zillions."

But upon reflection, it hit me that they're probably paying him around $2-3 million a year, which is likely the pinnacle of creative salaries. Which is what numerous not-very-impressive 20 and 30something Wall Streeters make come bonus time. And what numerous writer/producers of network TV shows can make in just one season. And what numerous engineers and other mid-level employees of hot 2.0 shops walk away with in stock options.

Like the title says, it just gives all those late nights a little perspective. But more importantly, it tells me how undervalued our contributions are -- not just us creatives, but the industry in general. Now that we've lost the 15% commission, we need to find a better way to get remunerated for our ideas. Because that's our real contribution and it's not a minor one. We provide real value and benefit to our clients and we need to find a fair and equitable way to monetize it.

So like everyone else, one of my first reactions to the news that award show magician Tony Granger was taking over the CCO job at Y&R was "Damn, they must be paying him zillions."

But upon reflection, it hit me that they're probably paying him around $2-3 million a year, which is likely the pinnacle of creative salaries. Which is what numerous not-very-impressive 20 and 30something Wall Streeters make come bonus time. And what numerous writer/producers of network TV shows can make in just one season. And what numerous engineers and other mid-level employees of hot 2.0 shops walk away with in stock options.

Like the title says, it just gives all those late nights a little perspective. But more importantly, it tells me how undervalued our contributions are -- not just us creatives, but the industry in general. Now that we've lost the 15% commission, we need to find a better way to get remunerated for our ideas. Because that's our real contribution and it's not a minor one. We provide real value and benefit to our clients and we need to find a fair and equitable way to monetize it.